The Indian Economy has indeed gone through a
roller coaster ride in the past few years: from
touching greater heights in the pre-covid period to
undergoing depression as covid set out to
negatively impact the economy and people of the
nation. There have been periods of downward
trajectory in growth. However lately, we have
observed that there seems to be an up-ticking
growth. The fiscal year 2020-21 witnessed the
worst performance ever of the Indian economy, the
GDP shrank by an overwhelming rate of 7.3%. The
last time Indian Economy contracted was in 1979-
80 by 5.2% when global oil prices went sky high. As
the reality of disappointments set in with the
performance in 2020-21, the resurrection of the
economy was postponed to 2022-23. With
heightened anticipation surrounding this New Year,
the Union Budget for the financial year 2022-23 is
one for which everyone has an eye. Let’s take a look
at a few statistics and what we can expect from the
government.
